A dynamic gateway of China’s reform-era boom
Czech Republic has won the Billie Jean King Cup, beating Ukraine 2-0 to claim the title. Barbora Strycova captains a side that dropped just one set in the tournament. Djokovic competes in Beijing amid a prior health issue that affected his performance.
OnePlus has announced it will stop launching new phones in Europe and North America and will focus new device rollouts on India and China. The parent company Oppo has begun a corporate restructuring as memory-chip shortages and rising component costs have cut demand for budget phones and pushed manufacturers to prioritise AI-oriented high-bandwidth memory.
A Suzhou court has ruled that Molly Tea infringed Louis Vuitton’s four-petal flower monogram, ordering damages of 10.3 million yuan and costs. Molly Tea must halt use of the logo and publish apologies; the decision is subject to appeal.
Luxshare Precision Industry plans a Hong Kong share sale to raise up to HK$24.3 billion, largely for expanding beyond consumer electronics into automotive and data-center hardware. The deal targets international investors, with pricing details due in early July and trading expected to begin July 9.
UBTech has unveiled the U1, a hyper-realistic humanoid robot intended to combat loneliness among singles and the elderly. The robot features emotional AI, camera eyes for stress detection, and comes in male and female versions. It is positioned for mass production with significant pre-orders, signaling China’s push to elevate robotics as a core industry.
Chips used in AI data centers are squeezing memory supply and driving up RAM costs, impacting smartphones, laptops, and other devices. The trend is shifting production toward high-bandwidth memory, reducing capacity for consumer chips and pressuring prices across the tech sector.
China is steering consumption toward offline, experience-driven spending as policymakers back in-person venues and events. Investors see the consumer as king even as retail growth remains tepid, with policymakers highlighting experience-focused sectors and venues like Wangfujing to attract locals and tourists.
Noul has made landfall in southern China, driving strong winds and heavy rain. Hong Kong cancels hundreds of flights and thousands are displaced as authorities mobilize flood defenses and relief funds.
Dolphin has made landfall near Yuhuan, Zhejiang, bringing winds of 151 km/h and torrential rain. The storm has prompted mass evacuations, flight cancellations, and widespread transport disruptions as authorities warn of prolonged rainfall and flood risk across eastern China.
A Shenzhen court has sentenced Evergrande founder Hui Ka Yan to life in prison and ordered confiscation of his assets, while a Guangzhou court has accepted bankruptcy liquidation for Evergrande’s mainland property unit. Courts have fined Evergrande and its unit about 15.8 billion yuan, and dozens of executives have also received prison terms.
The drills Ulchi Freedom Shield are being halted ahead of planned meetings with North Korea, following President Trump’s order to scale back the exercise amid regional tensions.
The United States has reduced two major joint military exercises with South Korea — cutting the Ulchi Freedom Shield exercise from 11 days to five and suspending the Ssangyong marine drill — citing limited U.S. force availability tied to the war in Iran and presidential orders. Seoul and Washington are consulting on when to resume training while Pyongyang has launched ballistic missiles in response.
China is calibrating its Tehran relationship ahead of Xi’s Washington visit. Xi meets Iran’s Pezeshkian on the sidelines of SCO, signaling Beijing’s careful diplomacy while avoiding a public show of alignment. The SCO communique supports civilian nuclear development but stops short of concrete commitments.
Enflame Technology has surged on its Shanghai STAR Market debut after raising 6.12 billion yuan, with Tencent backing. The IPO signals rising investor appetite for China's AI chipmakers as the country pursues semiconductor self-sufficiency amid U.S. export restrictions. Revenue rose in 2025 but losses narrowed; the company plans further chip development and expects to break even in 2026-2027.
Czech Republic has secured the Billie Jean King Cup, defeating Britain 2-0 to claim their 12th title. Linda Noskova and Karolina Muchova led the charge, delivering straight-set wins for a dominant performance. Barbora Strycova marks her first win as captain, while Britain’s squad features rising players but falls short in Shenzhen.
U.S. Ambassador to China David Perdue has said President Donald Trump asked Chinese President Xi Jinping if he would like to buy U.S. arms during Xi’s recent state visit. The White House and State Department have denied any plan to sell weapons to China and note U.S. law prohibits such sales. Taiwan’s pending $14bn package remains paused.
China seeks to lock in favorable terms on Taiwan and trade as Xi meets Trump; both leaders have touted an unprecedented timetable for talks this year. A new extension to existing agreements removes tension ahead of future summits in Shenzhen and Miami.
The White House has released a fact sheet from the Trump-Xi summit, announcing a U.S.-China Super Intelligence dialogue and a bilateral channel for SI incidents. The leaders plan a meeting by November, but sources say progress on AI breakthroughs remains limited and specifics are sparse.